This article by principal Karl Volkmar originally appeared in the SOA Health Section News, in August 2000 ( Page 14)

I consider myself a health actuary. Though I have had some experience in other areas of actuarial practice, health is “home” for me, and I intend to stay there for the foreseeable future.  The majority of my career has been devoted to supplemental health products (e.g., Medicare supplement/ select, LTC/HHC, cancer insurance, accident coverages), which certainly impacts my view of the examination system.

Given the above, I have little basis for knowing whether my opinions about health practice education also apply to other practice areas.The opinions I present may apply to all areas of actuarial practice. My impression is that they do not, at least not to the same extent.

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This article by principal Karl Volkmar originally appeared in the SOA Health Section News, in December 2000 ( Page 28)

In my experience, it is difficult (if not impossible) to make money in many health insurance product lines unless you have the ability to:

1. Quickly and accurately tabulate and review emerging experience; and,
2. Quickly respond to adverse emerging experience by taking the corrective actions necessary to help ensure that projected future experience is (at least) more in line with pricing expectations.

A list of corrective actions could include “rate increases,” many of which would be subject to state filing and approval requirements.

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